New £1m Hackney Affordable Workspace Fund announced

Local workspaces and businesses will be able to bid for a share of a £1 million grant fund to improve and expand affordable workspace in Hackney as part of a new Council fund to support the borough’s community of entrepreneurs, freelancers and small businesses.

The Hackney Affordable Workspace Fund will make capital grants of between £5,000 and £200,000 available to affordable workspaces, and businesses based within them, for projects that improve existing affordable workspaces and create new affordable workspace in the borough. 

The fund will particularly encourage investment that support the aims of the Hackney Responsible Business Charter, a new initiative encouraging businesses to help create a greener, fairer and more inclusive local economy.

This could include creating business spaces that support the borough’s journey to net zero; provide jobs, training or internships to local people; or offer access for local residents and community organisations.

The Hackney Affordable Workspace Fund, which is paid for by business rates and levies on new developments in the borough, is the latest Council initiative to support affordable workspace in the borough, including securing 4,800sqm of affordable workspace in new developments since 2019, and facilitating new affordable business space in Hackney Wick, Shoreditch and Dalston.

Applications will open during the week beginning Monday 3 June on the Hackney Business Network website. Join the online briefing on Wednesday 12 June to learn more about the application process, including eligibility criteria and required supporting documents.

The deadline to apply for the fund is Friday 5 July by 5pm.

The economic challenges facing businesses today make access to affordable workspace in Hackney more relevant than ever. That is why I'm delighted to be launching the Hackney Affordable Workspace Fund.

This will improve and expand existing affordable workspace provision within the borough, create more opportunities for local businesses and residents, and help support our goals of creating a more inclusive local economy and helping businesses transition to net zero. By taking this step, we are ensuring that Hackney continues to be a place where entrepreneurialism thrives.

Cllr Sam Pallis, Deputy Cabinet Member for Inclusive Economy